Good news for motorists as petrol prices in Slovakia are heading for their lowest level in three years to under EUR 1.30 a litre thanks to world oil prices nosediving over the past few months. Oil producer cartel OPEC is forecasting the price decline to continue as demands drops.
Global oil demand for 2015 is expected to slow by 300,000 bpd to 28.9 million bpd, that is more than 1 million bpd below the cartel’s current production. Oil prices have hit a five-year low and are still falling, hitting as low as USD 58.70 a barrel (WTI), while Brent crude touched USD 62.60. Prices dropped 4% today alone as the market braces for oversupply.
The falling prices should be seen at the Slovak pumps over the next few days, with further drops possible through the beginning of next year.
Info source: WBP Online
I’ll take it! this past summers EUR 1.58.9 was really helping the trains. Now if I could be 15 years younger or 20 older that would be different but the solitude of the cars simply rocks!
Oil at a five year low and still falling but petrol prices only fall to a three year low……Mmmm …… producers are making even more profit than before. Are any governments demanding the full effects of the price drop are passed on to the customer?
As for Comrade Putin, obviously he believes the crap that his state machinery is force-feeding the Russian people -US/EU economic sanctions are a return to the days of the Cold War. Strange that such an outwardly intelligent man does not realise that the entire world, save a few muppet states that embrace his own archaic political beliefs, is disgusted at Russia’s actions in the Ukraine and that the world community has no desire to see a new Russian Empire rise from the ashes of the USSR. Putin’s no politician, he is a school yard bully boy who like all of his ilk whine and cry when the tables are turned. Personally I hope the Russian economy totally collapses, the Rouble becomes cheap toilet paper, potatoes are the only thing on the menu and the people have to queue for hours to see a picture of a chicken. Russia was given the opportunity to become a valued member of the world community, saw this as a weakness and decided to go back to the old ways – military intervention and occupation of weaker states with no regard to treaties or law, and the Russian’s need to realise that there is a penalty for such behaviour.
Well the americans were smilling, when opec vowed to maintain production, another turn on the screws to Putin’s Rubel….